TIDMVAL
RNS Number : 7967Z
ValiRx PLC
23 September 2020
VALIRX PLC
("ValiRx", the "Company" or the "Group")
Share Price Movement / Exercise of Warrant
London, UK 23 September 2020: ValiRx Plc (AIM: VAL), the
clinical stage biotechnology company, notes the recent movement in
its share price and confirms as notified on 7 September 2020, it
still expects to receive and notify the headline VAL 201 trial
results by 30 September 2020 as stated in the half year results
notified on 7 September 2020, extracts of which as set out
below:-
"The Phase 1/2 clinical trial of VAL201 in the treatment of men
with prostate cancer was closed to further recruitment on 27
January 2020, with recruitment standing at a total of 12 patients
dosed across 5 cohorts. The dose escalation was carried out from
0.5 mg/kg up to 8 mg/kg with dosing being carried out once a
week.
The trial considered the safety and tolerability of drug
administration, alongside pharmacokinetics and disease impact.
Although the COVID-19 pandemic lockdown initially cast concern on
the time schedules for data verification processes, the project
remains on track to release headline results within Q3 2020, which
will provide basic details of safety, tolerability and disease
impact. More detailed observations on the pharmacokinetics and
complete summaries of patient demographics, biochemistry and study
conduct will be available when the Clinical Study Report is
completed in Q4 2020."
Following the placing announced on 23 July 2020 and the
subsequent warrant exercises and block listing application
announced on 19 August 2020 and the warrant update announced on 14
September 2020, the Company's current cash balance is circa GBP2
million.
Exercise of Warrant
The Company announces it has received a further notification for
the exercise of a warrant over 200,000 ordinary shares in the
Company at an exercise price of 12.5 pence per share providing the
Company with proceeds of GBP25,000 ("Warrant Exercise").
Application will be made to the London Stock Exchange to admit
the 200,000 new ordinary shares resulting from the Warrant Exercise
to trading on AIM. Admission of the new ordinary shares is expected
to occur on or around 28 September 2020. The new ordinary shares
will rank pari passu with the existing ordinary shares.
For the purposes of the Disclosure and Transparency Rules,
following the issue of shares detailed above as a result of the
Warrant Exercise, the enlarged issued share capital of the Company
will comprise 58,789,423 ordinary shares of 0.1 pence each. The
Company does not hold any shares in treasury. The above figure may
be used by shareholders as the denominator for the calculations by
which they will determine if they are required to notify their
interest in, or a change to their interest in, the Company, under
the Disclosure and Transparency Rules.
Warrant Update
As announced on 14 September 2020, the Company confirms that the
qualifying criteria for the accelerated exercise of the Broker
Warrants, as announced on 4 May 2020, of achieving a closing price
over 15p for 5 consecutive days was met at the time of the
published announcement. The Board has not, and does not, intend
calling on holders to exercise their warrants at this time, but
reminds warrant holders that they are able to do so at the time of
their choosing, until the earlier of 26 May 2021 or the expiry of
an accelerated exercise period.
Business Address Update
The Company's business address has changed to Eliot Park
Innovation Centre, 4 Barling Way, Nuneaton CV10 7RH. The Company's
registered office address remains Stonebridge House, Chelmsford
Road, Hatfield Heath, England, CM22 7BD.
For further information please contact:
ValiRx plc Tel: +44 (0) 20 7073
2628
www.valirx.com
Suzanne Dilly Suzanne.Dilly@valirx.com
Cairn Financial Advisers LLP (Nominated Tel: +44 (0) 20 7213
Adviser) 0880
Liam Murray / Jo Turner / Ludovico Lazzaretti
Peterhouse Capital Limited (Sole Broker) Tel: +44 (0) 20 7469
Duncan Vasey / Lucy Williams / Eran Zucker 0930
Caution regarding forward looking statements
Certain statements in this announcement, are, or may be deemed
to be, forward looking statements. Forward looking statements are
identi ed by their use of terms and phrases such as "believe",
"could", "should" "envisage", "estimate", "intend", "may", "plan",
"potentially", "expect", "will" or the negative of those,
variations or comparable expressions, including references to
assumptions. These forward-looking statements are not based on
historical facts but rather on the Directors' current expectations
and assumptions regarding the Company's future growth, results of
operations, performance, future capital and other expenditures
(including the amount, nature and sources of funding thereof),
competitive advantages, business prospects and opportunities. Such
forward looking statements re ect the Directors' current beliefs
and assumptions and are based on information currently available to
the Directors.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
SPMKKBBKDBKBQCB
(END) Dow Jones Newswires
September 23, 2020 02:00 ET (06:00 GMT)
Valirx (LSE:VAL)
Historical Stock Chart
From Feb 2024 to Mar 2024
Valirx (LSE:VAL)
Historical Stock Chart
From Mar 2023 to Mar 2024